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Asset or Liability?

Post in 'The Boiler Room - Wood Boilers and Furnaces' started by wardk, Feb 20, 2013.

  1. wardk

    wardk Member

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    I was wondering if anyone has sold their place after installing a big gasser system. Do potential buyers view the system as a liability or an asset? I'm not selling but my wife is starting too look at me sideways to the point I no longer excitedly tell her about all the tweaks and improvements I'm going to do before next heating season. It would be nice to tell her it adds value to the property as well as save on electricity.

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  2. avc8130

    avc8130 Minister of Fire

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    If it makes your wife happy, of course it adds value :)

    Truthfully, it is probably like a swimming pool. It only adds value to someone who wants a pool. Unfortunately, there are probably more people who would like a pool than a wood boiler.

    ac
    Gasifier likes this.
  3. Vande

    Vande Member

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    I have been wondering the same thing myself. I am more concerned with gathering the support of the sig other, while you have already accomplished that, before I worry too much about resale, but it is a concern
  4. TCaldwell

    TCaldwell Minister of Fire

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    been there done that, Installed garn in 2006, sold house in 2010, new owners wanted no part of it, offered them a small credit and moved it 5 miles away to my new house. it really was a opportunity to set up correctly the second time around, and alot of fun. If they had wanted it, i still would have done it again as wood burning is a lifestyle that i am not yet willing to give up. I think the analogy to a pool is pretty accurate.
  5. wardk

    wardk Member

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    True enough , I think the garn will always have value taking it with you is a great idea if the new owner can't appreciate it. I don't see many used garns for sale.
  6. bmblank

    bmblank Minister of Fire

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    The simple systems i would think are an asset. I mean, lots of you have a non-wood heating system as well as a non-wood water heater and while you use wood almost exclusively, if you weren't you could turn on the gas and walk away. For more complicated systems, like where wood is the primary, definitely a liability. Even if the new owner is willing to burn wood they would most likely need lessons on how to operate. Especially in situations with storage and/or no water heater.
    In the unfortunate outcome of me not being around to sell the house (I died), who will show the buyer what's what? I'd like to think my dad or my brother who have similar setups would be able to keep my Tarm from getting sent to the scrap yard.
  7. I see realtors around here mentioning when houses have wood boilers. They don't seem to know the difference from a piece of junk and high end systems though. Ive tried to make my system look professional and be a 'clean' install so it looks like an asset and not my science fair project.

    Actually had someone approach me about buying my house. They were very interested in the boiler. Not sure everyone would have a goal of no oil. But most seem to appreciate the idea of being able to throw in some wood when convenient and be able to seamlessly transition from wood to oil. Of course i have an indoor setup so no risk of freezing. I made my system as simple as possible for the end user knowing I most likely won't be the only owner. Put wood in hit start after you throw in a match, walk away. Oil will shut off and take over when necessary. I've also put diagrams and schematics in the boiler room for future techs.

    If I ever sell I'd be happy to take it all with me, I'm sure it's something that could be negotiated with the buyers.
    Taylor Sutherland likes this.
  8. BadgerBoilerMN

    BadgerBoilerMN New Member

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    Just show them your fuel bills...
    711mhw likes this.
  9. Karl_northwind

    Karl_northwind Member

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    what fuel bills?
    Taylor Sutherland likes this.
  10. Bad Wolf

    Bad Wolf Minister of Fire

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    I'm going to be looking at that in about 5 years. A lot will depend on the then current price of oil. Its a fairly large house (5 BR 3.5 baths)
    I used to burn 1100 gallons/year. At todays prices thats $330/month he wouldn't need to spend on oil.
    For the right person who wants a big house but couldn't afford to heat it, it might be a selling point.
    I could point to the $50/year oil bill and 3 years worth of wood neatly stacked in back.

    As everyone here knows, it's a lifestyle that some folk just wouldn't want to put up with.
    Get up, build a fire, get home bring in some wood and build a fire, repeat for 4 months. Even I get tired of it after a while. Then there is scrounging wood all summer.

    I figure if they like the house but don't want the boiler I could sell the system for enough to cover a new oil furnace.

    I would be interested to see what really happens, or maybe I'm not living in the real world.
  11. jebatty

    jebatty Minister of Fire

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    I bought my Tarm because I knew my initial install was not final, and that I would be building a new shop and would want to move the Tarm. Because of its small size and ease of moving, as well as reviews and quality of the Tarm, that was my choice.

    Seems to me that a wood boiler that would allow removal and relatively easy install of a natural gas/lp or other substitute boiler would be a fair consideration in boiler choice.
  12. Karl_northwind

    Karl_northwind Member

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    Speaking of, I have a client in the situation where they're divorcing, and need to sell their 1 year old Garn 2000. I'll throw it up on the "for sale" board, and a link to it here in the boiler room.

    karl
  13. goosegunner

    goosegunner Minister of Fire

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    I would bet that most buyers would try to down play the value even if they wanted it.

    I have always said if I was selling my house and someone made a big deal out of the in ground pool. I would simply say "No problem it will be gone in less than a week. I put it in, I can make it go away and you will never know it was there."

    Same would be true with the wood boiler. If you think it lowers my asking price, fine its gone, you can choose to heat however you would like. It is not a liability for the price of my home if it no longer exists.

    I would bet most buyers would say leave it.

    gg
    Taylor Sutherland likes this.
  14. Fred61

    Fred61 Minister of Fire

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    In ground pools make great vegetable gardens when they're filled in:)
  15. Seasoned Oak

    Seasoned Oak Minister of Fire

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    Thats why im a part time burner. I LOVE the stove ,but i dont want to be MARRIED to it. Like a mistress its there when you feel the urge or have the time and the wood.(Not that i have a mistress;lol)
  16. peakbagger

    peakbagger Minister of Fire

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    My boiler was free for the taking and my storage is in designed to be broken taken apart if need be so the only loss is lots of my time and the controls.

    I dont think standard appraisals (or realtors) deal well with HVAC and things like solar. Most people buy on curb appeal.
  17. I doubt appraisers will put a high value on a gassification system. When and if it comes down to it I'll put a dollar value on the wood boiler and tell them I'll take it or leave it, there choice.
  18. Seasoned Oak

    Seasoned Oak Minister of Fire

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    No way am i leavin my $3000 Harman behind unless they plunk down at least that amount ,which they wont.
  19. Gasifier

    Gasifier Minister of Fire

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    I will take my Gun with me when we find the right piece of property. We love it in the country where we are, but would like more acreage.
  20. I'd take my gun(s) with me too.
    ;)
    Taylor Sutherland and Gasifier like this.
  21. Gasifier

    Gasifier Minister of Fire

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    +1
  22. velvetfoot

    velvetfoot Minister of Fire

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    I don't have a wood boiler, but I don't think I'd be able to easily remove my wood insert and have a useable fireplace anymore. It's gotta be tough to remove a wood boiler from a basement! Never mind the storage tanks! And if you had bulk storage for a pellet boiler in the basement, that'd be more. This could be an advantage of an outdoor boiler-could be moved easily?
  23. Gasifier

    Gasifier Minister of Fire

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    Ooohh. C'mon?

    What would be so tough about it? ;) http://www.hearth.com/talk/threads/moving-in-the-tank-pictures-i.74168/
    ;lol http://www.hearth.com/talk/threads/moving-in-the-tank-pictures-ii.74169/

    Okay, your right. There was a little work involved. But it was fun. And did I ever learn a few things. I say this to my friends and brothers. (Many of whom have more experience than I do.) Everytime you do something you learn something. If you don't ever do anything............. Obviously, safety is always very important!

    The boiler came through the same window and I built a strong ramp to slide it down and we lifted it and moved it around with a tow truck that had two winches on the back with a telescopic boom. I never took any pictures of that. ;hm
  24. Seasoned Oak

    Seasoned Oak Minister of Fire

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    I strapped my wood stove to a dolly and moved it 3 times already and it weighs about 500LBs. Ill be moving it one more time. You have to ask is it cheaper to MOVE your stove or to BUY a new one.Youve got to move the new one into place anyway.
  25. velvetfoot

    velvetfoot Minister of Fire

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    I see your point, but the boiler and storage move ups it a bunch of notches.
    I bet when people generally make the decision to put in a boiler and storage, they're not thinking about taking it out; they're in a place where they don't figure on moving.

    PS: I wish I had a stove rather than an insert.
    PPS: Don't think I'll be able to convince the wife about a central solution, but still hopeful. Perhaps establishment of a secret slush fund is in order.

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